...STRATEGIC MANAGEMENT IN THE NIGERIAN OIL INDUSTRY WITHIN AN UNSTABLE ECONOMIC AND POLITICAL ENVIRONMENT AKINJIDE ODUNLAMI DECEMBER 31ST 2010 Table of Contents Introduction 3 The Oil Industry in Nigeria 3 Oil industry and the Nigerian Economy 5 Social and Environmental Impact 6 Strategy in the Nigerian Oil Industry 8 Managing External and Internal Forces 8 Assumptions 9 Key Strategic Activities 10 1. Timely Funding of the Joint Venture Cash Calls 10 2. Operational Efficiency 11 3. Cost Reduction and Leadership 11 4. Capacity Building 13 5. Facility Integrity and Innovation 14 6. Sustainable Development 14 7. Gas Utilisation 16 8. Security 16 Strategic Fit and Sustainability 17 Strategic planning and management system 17 Balanced Score Card 17 References 18 Introduction This paper considers Strategic management in the oil industry to deliver value and economic development in an economy very much dependent on crude oil revenue and with a fluctuating local currency rate against the US Dollar coupled with a volatile political climate with attendant security concerns. The industry, economy and political environment in focus here are those of Nigeria, a developing West African country. Within the context and space constraints of the Nigerian economic, political and social climate, an oil company must carefully define and manage its Corporate Strategy such...
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...BANKING INDUSTRY IN NIGERIA. BY Adegboye Folasade Bosede Department of Banking & Finance Covenant University Ota, Ogun state. Tel: 07032678252 e-mail:sadeadegboye@yahoo.com THIS PAPER IS TO BE PRESENTED AT: THE 8TH ANNUAL CONFERENCE OF THE NIGERIAN SOCIOLOGICAL SOCIETY AT TEMPRANCE HOTEL OFF THE BELLS UNIVERSITY ROAD OTA, OGUN STATE. DATE: TUESDAY NOVEMBER 25- THURSDAY NOVEMBER 27, 2008 ABSTRACT Professionalism in banking is violated when ethical or legal fundamentals are breached or blatantly disregarded. Ethics is a strong code of morality, which for an occupation such as banking, plays an important role in the well being of individuals, businesses, national and international economies. Unethical conduct manifests itself in various ways, including insider abuse, fraudulent dealings; irregularity/inaccuracy in rendition of reports, these are problems bordering on business ethics as evident in the Nigerian banking crisis. A multiple regression analysis was used and from the summary of the finding, we can infer that the consequences of insider dealing and problem of business ethics can be disastrous and could result in loss of confidence and trust in the industry, loss of business for the institutions, shareholders, board/management disputes, operational losses, distress of the sector, and liquidation of institutions, capital flight, and stagnation of the economy. INTRODUCTION Traditionally, the role of banks whether in a developed or developing economy, consists...
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...Introduction The commercial space region consist of entrepreneurial space companies, emerging market for space capabilities and prime contractors. Space commercialization involves rendering or selling of services such as satellite communications, remote sensing, launching of space objects and the manufacturing, transferring and exchanging of space products for remuneration." Commercial space is divided into different areas which are: launch vehicle manufacturing and services, satellite manufacturing and satellite operation and services. The opportunity of using space to make money by selling goods and services to governments and private customers has become very prevalent in Europe, Nigeria and Russia and is growing rapidly. Government plats a huge and active part in the capitalizing and promoting of commercial space, they carry this role out by creating policies that are regulatory and polices that lead government agencies into purchasing services or hardware from companies.eg. Buying data from remote sensing satellite companies. “Space has become a global enterprise with the number of nations and firms with space goods and services growing rapidly. And not only are more people involved in space but also the unique advantages of the space environment have contributed greatly to the growing trend toward globalization through its almost universal coverage of populated...
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...International Investment Report - British Petroleum in Nigeria Group D June 6, 2015 Table of Contents Introduction 3 Country Evaluation 6 Industry Overview 9 Regulatory structure 9 Competition – Major and minor competitors 12 Local financing options for the expansion 12 Overall attractiveness of the industry 13 Entry Strategy 13 Recommendations 17 References 20 Introduction Nigeria in West Africa is about twice the size of California in the US but is the largest country in Africa. Just over 160 million people live in this country with approximately 800,000 of them living in the capital city of Abuja which is located in the very center of Nigeria. (Nigeria) Nigeria has two distinct reputations. One as a corrupt and violent country that is not highly recommended for tourist type visitations (although it does have incredibly interesting historical sights) and the other for being the country visited mostly for unbelievably lucrative business transactions involving oil and gas. The Nigerian people live mostly in poverty in a country where oil and gas exports total billions in revenue. This is due to the fact that the Nigerian government has total control over their property rights. In addition corruption within that government runs rampant. According to an article by Michael Burleigh 70% of Nigerians live below poverty level struggling to survive. (Burleigh) What is even more interesting in a country rich in oil and gas is that the poverty stricken...
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...financing the manufacturing sector in Nigeria. The discussion centered on the state of the Nigerian manufacturers, background, challenges and the imperatives of the capital market meeting the financial and investment challenges of the sector in the face of recent economic reforms and increasing competition posed by globalization. The study sought to determine the extent to which the Nigerian capital market contributes to the development of manufacturing industries. An attempt was made to highlight government intervention in funding the sector and the reality of the country’s manufacturing sector. The study revealed that the Nigerian manufacturing sector has been on the decline owing mainly to government reliance on the oil industry, the decaying infrastructural facilities in the country and non-access to investment fund by local manufacturers. The study concluded that the capital market, despite the problems and challenges it may faced, is a veritable tool in the growth and development drive of the country’s manufacturing sector. 1. Introduction The manufacturing sectors in any country of world rely on medium and long-term fund to carry out its productive activities. Equity capital alone is never adequate and external sources of funds are usually sought. Such needed funds are not available in the money market; The capital market is where such funds are sourced. Nigeria, like other economies of the world has her own capital market. The growth and development of the capital market...
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...social welfare. This essay focuses on how we can create and expand employment opportunities in Nigeria in order to solve Nigeria’s security challenges. This essay starts by giving an overview of the Nigerian employment landscape since Independence, it then adapts Joachim Von Braun’s Employment generation chain to schematically explain the economic impact of employment creation, and finally it proffers solution on how Nigeria can create jobs for its population in order to live in a safer Nigeria. The Nigerian Employment Landscape Employment generation is a primary economic development goal of every industrializing nation. More jobs generally mean more economic activities, more tax revenues for the government, and less idle time. Job growth permits the expansion and improvement of public goods and services, leading to an improved quality of life and enhanced prospects for future employment growth. In addition, a vibrant job market provides an incentive for citizens to continue their education since the rewards for such are evident in better employment opportunities. While an expanding job market encourages workers to upgrade their skills in order to qualify for available higher wage jobs, sustained job growth stimulates improvements in the education and skills of the labour force, making the nation a more attractive location for businesses in the future. The present employment situation in Nigeria has its roots in the country’s economic...
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...CHAPTER ONE 1. BACKGROUND OF THE STUDY Before an investor commits his funds to any investment in stocks, he must ensure that such stock is the type that is capable of satisfying his investment objectives. These objectives which vary from one investor to another include:- i) security (safety of capital invested) ii) adequate return on investment by way of dividends iii) growth prospects/capital appreciation iv) spread of risks, etc. The exercise of security analysis is based on the general assumption that the intrinsic value of a company can be discovered by an assembly and analysis of financial information relating to its operations. This then forms the basis on which the investor could evaluate each stock in the market and determine the extent to which it satisfies his specific objectives before deciding whether or not to invest. 2. STATEMENT OF THE PROBLEM A decision to invest in stocks, like any other investment decision, has a direct impact on the investor’s networth. The main issue which this study focuses on is to examine how prudently an investor can select securities based on conventional objective criteria so as to improve his networth. Consequently, some relevant research questions that direct the study include:- - determining the profitability of the companies whose studies are being offered to the investor and likelihood of maintaining or improving upon such performance...
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...predictability CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The performance of an economy is dependent largely on the efficient performance of its financial markets, since they facilitate the financing of productive activity and hence national output and economic growth. In this research report, the key roles and function of the financial markets are highlighted with the thrust of the discussion on the core issue of how the market works; directly and indirectly. One of the most important factors for rapid economic development is the effective mobilization and allocation of scarce resources within an economy. These resources can be real or financial, but they are scarce and command a price. The establishment of effective and efficient channel for the mobilization and allocation of scarce financial resources is therefore essential. The financial market, comprising of the money and capital markets, occupies an important place in most economies of the world. The primary function of a financial market is to enable funds to be sufficiently allocated from the surplus units of the economy to the deficit units for productive investment. The greater the transmission efficiency is, the higher the rate of growth of the economy (Olowe, 1997). The money market trades only in securities or debt instruments maturing in less than twelve months, while in the capital market, longer term debts as well as equity instruments are traded. The complementarity between money market...
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...ABSTRACT Electronic banking is a subject receiving great attention in the banking industry and the regulation agencies. It is a driving force that is changing the landscape of the banking industry. It has blurred the boundaries between different financial institutions, enabled new financial, products and services and made existing financial services available in different packages. Some analysis argue that electronic banking is revolutionizing the banking industry, others see it as simply complementing the physical banking branches; irrespective of its own merits there are diverse challenges and problems associated with this form of banking in Nigeria. The main research instruments used are questionnaires and personal interview for staff and customers of various banks, primary and secondary method of data collection were used. The simple frequency percentage was adopted as the statistical measure and hypothesis testing was analyzed using chi-square. In conclusion, the study revealed that electronic banking despite its challenges has led to increased efficiency in banking and its service ,cost-reduction in banks, and reduction of waiting time experience in the banks. The research recommended that banks should follow the stipulated electronic banking guidelines of the central bank of Nigeria. Government should accelerate actions that will enable a good environment and the growth of the banking sector. CHAPTER ONE INTRODUCTION 1.0 BACKGROUND...
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...the International Monetary Fund (IMF), January 2015 Edition, the global economic growth is forecast at 3.5% and 3.7%, for 2015 and 2016 respectively. The forecasts were reviewed downward by 0.3% The IMF forecasts a global economic growth of 3.5% and 3.7% for 2015 and 2016 respectively. relative to the October 2014 WEO. The revisions reflect a reassessment of prospects in China, Russia, the Euro-area, and Japan as well as the weaker activity in some major oil exporters because of the sharp drop in oil prices. The United States (U.S.) is the only major economy for which growth projections have been raised upward. The IMF added that the global growth will receive a boost from the lower oil prices. However, this boost is projected to be more than offset by the negative factors, including investment weakness as adjustment to diminished expectations about medium-term growth continues in many advanced and emerging market economies. The U.S. is expected to grow by 3.6% in 2015 and slow down to 3.3% in 2016, supported by domestic demand due to lower oil prices, more moderate fiscal adjustment, and The U.S. is expected to grow by 3.6% in 2015 and slow down to 3.3% in 2016. continued support from an accommodative monetary policy stance, despite the projected gradual increase in interest rates. The Euro-area is forecast to grow by 1.2% and 1.4% in 2015 and 2016 respectively. The growth would be driven by lower oil prices, further monetary policy easing, a more neutral fiscal policy...
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...PERSONALITY FACTOR IN THE CONDUCT OF NIGERIA’S DIPLOMACY: A COMPARATIVE STUDY OF THE OLUSEGUN OBASANJO AND MUSA YAR’ADUA ADMINISTRATIONS, 1999-2000 Proposal submitted by Oluwatoyin Alabi to DR. David Aworawo, of the Post Graduate School, University of Lagos. In partial fulfillment of the Requirements for the award of the Degree: Masters of International Relations and Strategic Studies. (MISS) AUGUST 2012 PROPOSAL This work, adopting a multidisciplinary approach, seeks to analyse aspects of Nigeria’s diplomacy, specifically the effect of the leader’s personality on the conduct of Nigeria’s external relations. To effectively do this, the work shall comparatively assess Nigeria’s diplomacy under Presidents Obasanjo and Yar'Adua from 1999-2010. Seeking to see the effect their personality type had on the manner, trends and approach to Nigeria’s diplomacy during the period. On record President Obasanjo undertook a shuttle diplomatic effort across the globe especially between 1999 and 2002, this is said to have reintegrated Nigeria into the comity of Nations, where she was previously a pariah. How did his personality affect these efforts? Was his personality added value or reduced value? At the point of his death President Yar’Adua was ECOWAS chairman, previously in 2009 he attended the G20 meeting in Germany, visited President George Bush at the start of his term and other diplomatic engagements. How did his personality affect all these? On the whole how did the respective...
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...SECTION 1 - INTRODUCTION 1.1 Background to the study Listed companies use financial statements as one of the major medium of communication with their stakeholders. Therefore, stock market regulators and accounting standards setters trying to improve the quality of financial statements in order to increase the transparency level in financial reporting. (Vishnani S., Shah B.K., 2008). Financial reporting by companies is effected via the preparation and publication of financial statements. These financial statements are required to exhibit certain degree of quality in terms of their information contents. Mines & Wahlen (2006) and Belkaoui (2002) opined that accounting information contained in the financial reports should possess certain qualities as relevance, verifiability, understandability, neutrality, timeliness, comparability, and completeness. When the financial reports disclose quality accounting information, according to Benston (2007), the decision of the users (investors, management, government, employees, creditors, analysts) of the reports could as well be qualitative and informed. While there have been a number of studies on this topic in developed countries (Collins, Maydew and Weiss, 1997; Lev and Zarowin, 1999; Francis and Schipper, 1999; Beisland, Hamberg and Navak, 2010), one is not aware of any expansive study that has explored the subject of value relevance of accounting information in Nigeria. It has not been comprehensively researched primarily...
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...renewable energy 12 Availability and cost of skilled employees 13 Geography 14 Renewable energy potential in Nigeria 16 Solar Energy 16 Wind Energy 17 Waste-to-energy 17 Biomass 17 Reference 19 INTRODUCTION There is higher demand for electricity in the country due to the high consumption and need for electricity, and this project is the plan to study the demand for renewable energy re- sources in Nigeria and to find out the main competitors and discover the best periods for market entry in the country via the micro and the macro environmental analysis. The demand for renewable energy in the country is being driven by the increase and urbanization access to energy intensive technologies, product and the industrial growth. The Nigerian government is wooing energy companies to come and invest in the country. Special energy policy for foreign investors is being organized, such as tax reduction for energy investors in the country, softening all policies related to energy. Nigeria has a lot of renewable energy potential such as sunlight, which might be productive for solar power, and abundance bio-waste for biomass energy production. The renewable energy products that Nigeria requires most are Solar, Hydro, Wind, & Bio-energy. Premium Renewable Energy Sdn Bhd was formed in 2007 with the objective of affecting positive environmental change at a global scale by replacing today’s unsustainable methods of power generation with efficient green...
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...RISK –RETURN TRADE -OFF ON THE NIGERIAN STOCK EXCHANGE OLOWE, OLUSEGUN BANKING AND FINANCE DEPARTMENT COVENANT UNIVERSITY OTA. NIGERIA E-mail: oreoba2000@yahoo.com oreoba2000@gmail.com 1 ABSTRACT Expected excess returns on bonds and stocks, real interest rates, and risk shift over time in predictable ways. Furthermore, these shifts tend to persist for long period. Changes in investment opportunities can alter the risk-return trade-off of bonds, stocks, and cash across investment horizons, thus creating a term structure of the risk-return trade-off. This term structure can be extracted from a parsimonious model of return dynamics, which was illustrated with data from the stock market in Nigeria using the VAR model in the light of the reforms in the financial services sector coupled with the stock market crash and the global financial crisis. Using annual returns over the period of 1981 to 2008, volatility persistence, asymmetric properties and riskreturn relationship are investigated for the Nigerian stock market visà-vis the calendar effects on stock market performances. The degree of volatility persistence and leverage effect supporting the work of Nelson (1991) was visible in the relationship between value index of stocks, market capitalization and the volume of transactions. Key words: Calendar effect, Volatility, Stock market, Financial Reforms, Global Financial crisis, Volatility persistence, VAR, Risk-return tradeoff 2 INTRODUCTION The major flow...
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...1 INTRODUCTION Nigeria as a nation is a democratic country with over 170 million people. With a presidential system of government. It comprises of 36 states and 777 local government area. The connection between Nigeria and China dates as far back to 1971. At the same time when penning this thesis the president of Nigeria is in china to expand this relation. The Chinese Ambassador in Nigeria, once said sometime last year that China and Nigeria have longstanding relations that dates back as far as 45 years. Nigeria is China second biggest trade partner in engineering in Africa. It supposed that by the end of next year our relations of trade will be as high as $13 billion China is still to build a world renowned company like General Electric and Apple. The impression most of the foreign countries have of china is that their business men and entrepreneurs are out to gather wealth, rather than for business strategy, innovation and style of administration. But yet china has one of the most effective business management approach in the 21st century. The Chinese administration cannot be like the Japanese six sigma or invent new management technique, but offers more skills of business management than companies more occidental could offer. The Chinese businesses offer administration's common imperatives: responsiveness, improvisation and flexibility. These competencies supplies them a critical facet. The Chinese Companies have discovered to handle differently over the past 30...
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